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MI Form 5305-S: What You Should Know
Only in Effect in the State where the Eligible Employer has its principal place of business. However, an Eligible Employer and an Eligible Employee may each be an Eligible Employer for a State and the Eligible Employee may each be an Eligible Employee for a State. The Form 5305-S is the successor to the 5305-SA. It requires the following information: Employer Identification Number (EIN) Employer's Certification for Self-Employment Business Entity Identification Number (EIN) The Forms 5305-S (Rev. April 2017) are the current forms as of 9/15/2017. Forms 5305-S Simple Individual Retirement Account (SIMPLE-IRA) and 5305-S SIMPLE Individual Retirement Plan (SIMPLE-IRS (Rev. April 2017) Form 5306-B (Rev. 9/29/2017) — IRS Only Form 5307-O (Rev. 1/15/2018) — IRS Only Form 5307-S (Rev. 7/27/2018) — IRS Only Form 5308-O (Rev. 5/10/2018) — IRS Only Form 5309-O (Rev. 4/7/2019) — IRS Only Form 5310 – 5307 – 5308 (Rev. 6/30/2004) is the plan approved to be used by an Eligible Employee on the Form 1040 for the calendar year in that tax year. Note: The 5309 plan will not be approved by the IRS for an Eligible Employee to use for taxes beginning after 10/31/2010 unless the Employee (the Eligible Employee) elects to have the 5309 plan used for taxes beginning after 8/1/2017. There is a possibility that after August 1st, 2023 any Eligible Employee that receives a Form 1040, Form 1040NR, Form 1040-EZ or Form 2106 for calendar 2023 will not be able to use either a SIMPLE IRA or a SIMPLE Individual Retirement Plan (SIMPLE-IRS) on that same form. As a result of this legislation in July 2023 the following is no longer valid: Section 408 Certification Form for the Simpler (the current version of Form 5306-B) on the Form 2106. Please read IRS Letter No.
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